Bangladesh Bank has acquired close to $6 billion from the foreign exchange market in the fiscal year 2025-26 as part of ongoing efforts to manage liquidity and stabilize the exchange rate. The latest data from the central bank reveals that the bank bought $100 million from six commercial banks yesterday at a rate of Tk 122.75 per dollar, bringing the total purchases in the current fiscal year to $5.98 billion from July to May 18.
The central bank has been actively purchasing US dollars since the start of this fiscal year due to improved inflows and reduced pressure on the foreign exchange market. In contrast, between fiscal years 2021 and 2025, Bangladesh Bank sold over $25 billion from its foreign exchange reserves to cover import payments for essentials like fuel, fertilizer, and food.
However, at the onset of the current fiscal year, the bank shifted its strategy and began purchasing dollars again as the supply increased with higher export earnings and remittance inflows. The continuous buying of dollars is also aimed at bolstering foreign exchange reserves.
As of May 14 this year, the gross foreign exchange reserves, as per Bangladesh Bank calculations, reached $34.31 billion, a significant increase from $25.47 billion during the same period last year. According to the IMF’s BPM6 methodology, reserves stood at $29.65 billion, up from $20.09 billion last year.
The interbank exchange rate stands at Tk 122.75 per US dollar today. Despite the central bank’s dollar-buying efforts, some economic experts have criticized the move, citing high inflation in Bangladesh. They argue that allowing the dollar rate to decline further could potentially aid in managing inflation levels.